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Welcome to U.S. Global Investors, Inc. - Family of Mutual Funds
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4th Quarter 2000

Are you interested in learning more about investing in mutual funds, retirement planning, asset allocation or investing in general? Read some of the latest articles from our quarterly Shareholder Report. Our newsletter provides investors with financial solutions, insights from money managers and global perspectives on investing. If you would like to receive a current issue of our Shareholder Report, please call an investor representative at 1-800-US-FUNDS.

Message from the Chairman
U.S. Global Chairman & CEO Frank Holmes urges shareholders to manage their expectations of the stock market during this volatile period.

Potential risks and rewards of investing
This guide assists investors in selecting appropriate funds based on potential risks and rewards from our family of funds.

At your service!
This column answers your questions about dividends and end-of-year tax documents.

Buying shares now is more convenient than ever!
Our latest service, online purchasing, is now a reality.

Act now! Save with a FREE Lifetime IRA
USGI will waive the annual maintenance fee when you invest $2,000 in your year 2000 IRA.

Children & Investing
This article explains how IRA's for children work and why they should be considered.

Women & Investing
This article encourages women to plan early on for their retirement, citing statistics from the Employee Benefit Research Institute that women may have to put off retirement or work parttime during retirement to pay the bills.

Retirement planning online?
Investors can follow 5 easy steps to starting a retirement plan.

What is your retirement readiness rating?
A simple quiz determines how prepared you are today for retirement.

A New Year's resolution worth keeping
This article offers simple suggestions for putting more money into your 401(k) plan.

Market Conditions: A question of value?
Research Director Michael Ingraham takes a look at the rotation from growth to value stocks over the past year.

Past Issues
Would you like to read some of the articles in past issues of the Shareholder Report? You can read selected articles from several of the most recent Shareholder's Report.

1st Quarter 2002
4th Quarter 2001
3rd Quarter 2001
2nd Quarter 2001
1st Quarter 2001
3nd Quarter 2000
2nd Quarter 2000
1st Quarter 2000
4th Quarter 1999
3rd Quarter 1999
2nd Quarter 1999
1st Quarter 1999
4th Quarter 1998